New-Vehicle Inventory Up
Supply hits 20-month high in November as SAAR falls from October, NADA says.
The sales pace dropped for the second month in a row to 15.3 million units, NADA said.
IMAGE: Pexels/Daniel Andraski
New light-vehicle inventory has reached a 20-month high, according to the National Automobile Dealers Association.
Supply grew from 2.15 million units on Nov. 1 to 2.33 million by Nov. 30, up 8.3% month-over-month.
NADA points out that with inventory revived from pandemic-era lows, incentives have increased, citing a J.D. Power projection of November average incentive spending per unit at $2,247, up about 22% month-over-month and 106% year-over-year.
Despite the added incentive for consumers to buy new, the sales pace dropped for the second month in a row, said NADA, which put the seasonally adjusted annual rate at 15.3 million units. That’s up 7.4% year-over-year, though – the 15th straight month of year-over-year increases.
Originally posted on Auto Dealer Today
More Industry
Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →